I think that is standard…. Which is why I limit it to a tiny portion of my portfolio. You want to sleep easy, and great companies at reasonable prices allow you to do so without obsessing. Spec stocks are essentially like gambling. And if you don’t have disposable millions, spec stocks are stressful because it is unlike any other stock type - you could lose everything you spend on it. If I lose 20% capital on a stock that earns me 8% per annum, holding it for 5 years means I’m roughly 25-30% up anyway.
I limit spec stocks to those that I understand reasonably well, or those that are a huge potential at a tiny cost.
Ann: Customer update and FY23 preliminary results, page-310
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